Volvo Cars to Invest $1.1B in Swedish Manufacturing Plant

Volvo Cars to Invest $1.1B in Swedish Manufacturing Plant

By Dominic Chopping

STOCKHOLM–Volvo Car AB said Tuesday it will invest 10 billion Swedish kronor ($1.1 billion) in its Torslanda, Gothenburg, manufacturing plant in the coming years to prepare for production of its next-generation fully electric cars.

As part of the planned investments, the company will introduce a number of new and more sustainable technologies and manufacturing processes at the plant, the auto maker said.

“Torslanda is our largest plant and will play a crucial role in our ongoing transformation as we move towards becoming a pure electric-car maker by 2030,” Chief Executive Hakan Samuelsson said.

The Torslanda plant has an annual production capacity of 300,000 cars and employs around 6,500 people.

Write to Dominic Chopping at dominic.chopping@wsj.com